Skip to main content

OpenSea ‘cuts 50% of staff’

Prominent NFT marketplace OpenSea has made sizeable cuts to its staff – up to 50% of its team will lose their jobs, according to reports. 

CEO and co-founder Devin Finzer announced the lay-offs in a Friday (UTC) tweet in amongst details of a “big upgrade” coming to the platform. 

“Today, we’re re-orienting the team around ‘OpenSea 2.0,’ a big upgrade to our product – including the underlying technology, reliability, speed, quality and experience,” Finzer tweeted.

“We will change how we operate – shifting to a smaller team with a direct connection to users. So today, we’re saying goodbye to a number of OpenSea teammates.”

Finzer did not say exactly how many employees would go, but a spokesperson confirmed 50% of staff would be impacted, Decrypt reported. 

OpenSea cut about 20% of its staff in July 2022, after which its team numbered 230. 

*Enjoy our reporting? Sign up for the Pharos newsletter and receive an update every week for free

Polemos staff

Our small editorial team is distributed globally: UK, France, Turkey, Singapore, Australia, New Zealand, US and Colombia. We are dedicated to bringing our audience accurate and timely information about the world of blockchain gaming. Please see the Editorial Policy or Team links in the footer menu for more.